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EDA formally on board with Devco’s ‘Hub’ project

The New Jersey Economic Development Authority on Friday said it has approved actions that will advance Gov. Phil Murphy’s goal of bolstering the state’s innovation economy.

First, the EDA authorized a formal agreement with the New Brunswick Development Corp. to advance development of “The Hub” project in the city’s downtown.

“Today, New Jersey is taking another step forward in recapturing its reputation as a hub of innovation,” Murphy said in a prepared statement. “The actions taken by the EDA will help grow new, innovative companies, advance new ideas and generate new economic opportunities for our state.”

The Hub, in the works for years, got a boost from Murphy back in March, when he announced the state would throw its weight behind the plan for the mixed-use development project across from the train station.